Google introduces new rules for crypto ads in Europe

Starting from April 23, Google will implement a new policy for crypto-themed advertisements in Europe. The goal? Strengthening the regulation of the sector, in line with the European regulatory framework MiCA (Markets in Crypto-Assets) and the regulation CASP (Crypto Asset Service Provider). The move, announced in an official policy update dated March 24, represents an important step towards greater protection for investors, but also raises questions about the possible impact on small operators in the sector.

Google sets new rules for crypto ads: what changes with MiCA

From April 23, all cryptocurrency exchange platforms and digital wallets that wish to advertise their services on Google in European countries must have a license compliant with the MiCA or CASP regulation. Additionally, they must comply with any additional local legal requirements imposed at the national level and obtain a certification from Google.

The new policy will be valid in almost the entire European Union, including countries like Italy, France, Germany, Spain, Sweden, Netherlands, Poland, Greece, Ireland, and many others. In total, 27 member states are involved.

Google has clarified that violations of the new policy will not result in immediate suspensions of advertising accounts. In case of an infraction, a notice with at least seven days’ advance will be issued before proceeding with any suspensions. This gradual approach aims to give advertisers the necessary time to comply with the new rules.

The regulatory context: MiCA and CASP

The change in Google’s advertising policy comes after the entry into force, in December 2024, of the MiCA regulation, the first comprehensive regulatory framework for digital assets adopted at the European level. The MiCA introduces stringent requirements in terms of anti-money laundering (AML), financial transparency, and investor protection, with the aim of reducing risks related to scams and frauds, such as those that characterized the period of Initial Coin Offerings (ICO) before 2023.

According to Hon Ng, Chief Legal Officer of Bitget, the new Google policy represents a “double-edged sword” for the cryptocurrency sector. On one hand, the adoption of the MiCA framework helps to filter out unregulated operators, improving security for investors. On the other hand, the strict application of the new rules could prove to be overly restrictive, especially for smaller entities.

Ng emphasizes that the capital requirements imposed by MiCA — which range between 15,000 and 150,000 euros — could represent a significant obstacle for small exchange platforms. Furthermore, the need to obtain a double certification (from Google and local authorities) risks increasing compliance costs and slowing down innovation in the sector.

Risks of misalignment between regulations and enforcement

Another critical point concerns the implementation times of regulations at the national level. Since the transition periods for adapting to MiCA licenses vary from country to country, temporary gaps in the application of rules may arise, resulting in difficulties for companies in ensuring full compliance.

Ng warns that, without flexible implementation, the new rules could end up stifling innovation rather than fostering it. “These measures are a step forward for trust in the sector, but flexibility is needed to avoid penalizing those who want to innovate,” he stated.

A more protective measure for Google than for investors?

Not everyone, however, sees this move as an epochal change. Mattan Erder, General Counsel of the decentralized blockchain network Orbs, believes that the policy update is more aimed at protecting Google from potential legal liabilities rather than directly safeguarding investors.

According to Erder, the real impact of this decision will depend on the actual applicability of the MiCA and CASP regulations. If these prove to be onerous, costly, and accessible only to large operators, small enterprises could find themselves in serious difficulty competing in the European markets.

A delicate balance between regulation and innovation

The new Google policy reflects a growing trend towards regulation of the crypto sector, in response to the numerous issues that have emerged in recent years. However, the balance between regulatory security and room for innovation remains fragile. On one hand, it is essential to protect users from fraud and unauthorized operators, while on the other hand, it is equally important not to stifle startups and emerging entities that represent the engine of innovation in the sector.

With the entry into force of the new policy, it will be interesting to observe how the market will react and whether the European authorities will be able to ensure a consistent and balanced application of the new rules.

Conclusion: a necessary turn, but not without risks

The update of Google’s advertising policy represents a crucial step towards greater regulation of the cryptocurrency world in Europe. Alignment with the MiCA and CASP regulatory framework could help create a safer and more transparent ecosystem, but only if accompanied by a flexible application that is attentive to the needs of the different realities of the sector.

The success of this initiative will depend on the ability to balance regulatory rigor and support for innovation, avoiding that the new rules become an insurmountable barrier for those who want to enter the market in a legal and responsible way.